Hi Hugitorious & others, Welcome aboard the express. I like the...

Hi Hugitorious & others,

Welcome aboard the express. I like the thread title.

For those new today, here's in brief what we're expecting which might validate a Disallowed:

1. 30 OCT - we should get somewhere between $20-50m revenue at auction from sale of rubies. This represents about 8mths of "prospecting".

1A. 14 SEPT - Prior to this auction (ie probably in 2 weeks) we'll get an update of recoveries confirming current inventory. If recoveries remain on track (say 175k carats by 14/9) , then the revenue will likely be on track. This will be a big interim kick to SP before the auction.

2. FUTURE - We expect the next ruby revenue to hit March 18 for approx same amount (200k carats each 1/2 year before any plant upgrades). Quarterly thereafter. Mining Costs are conservatively estimated at $12m pa. This is what justifies a market cap of potentially $400m. Note - the immediately neighboring ruby mine was worth about this before it de-listed and went private.

3. Also in SEPT - We also, coincidentally, hold some really high quality graphite land (near SYR/TON) which we expect JORC to be delivered in Sept. Drilling & Metallurgy have proven up quality already. A JV for this project with another (maybe SYR) would also multi-bag this share.

Lots of good news to come in a very short timeframe.

This is all IMO, please DYOR.

Cheers
Capt Amazing